| Journal Call no. | HC497.H6H45 |
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| Article Title | Real dynamics of competition. |
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| Is Part Of | Hang Seng economic monthly ; Feb 2000, p.1-3, illus. |
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| Abstract | The anomaly of competition in Hong Kong is not collusive behaviour or the lack of anti-trust legislation. Market domination is not a cause for concern if there is free and unconditional entry. Competitive bidding for a franchise does not necessarily benefit consumers. Real competition only exists when it brings the benefit of lower prices or better quality. What really matters is the basis of competition. competition is multi-dimensional in practice. Consumers will only benefit from price competition if quality is not compromised. The merits of non-price competition are often overlooked where quality counts. Anti-trust laws are no guarantee of competition in the proper context to the benefit of consumers and will probably penalise success. |
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